Digital Transformation: Revised Edition 1

Posted by Ben Whittacker-Cook on Apr 29, 2022 3:07:07 PM

A regular and exclusive series addressing some of the major challenges facing SMEs today. Icehouse Insights also highlights some of the possible solutions you can weave into your business to solve common issues.

What is Digital Transformation and why does it matter?
How can SMEs use it to their advantage?

One year ago, The Icehouse launched a special edition of Icehouse Insights; focusing on digital transformation. As the technological landscape changes so fast, this update attempts to open a window to existing challenges and alert readers to what's happening in 2022.

Digital Transformation is becoming one of the most important business priorities – and with good reason, as it’s the main component for innovation in today’s successful and adapting businesses. It’s a key driver in how these organisations operate,
compete and grow.

It was always coming, but digital transformation initiatives have skyrocketed since COVID-19, as businesses were forced to investigate new ways of working to control costs, boost efficiency, offer their teams flexibility and, perhaps most importantly of all, address the ever-changing and more sophisticated needs of customers.

It’s time to ask yourself… are you harnessing digital to effectively achieve your strategy?

What is digital transformation?

‘Digital transformation is the process of using digital technologies to create new, or modify existing, business processes, culture, and customer experiences to meet changing business and market requirements. This reimagining of business in the
digital age is digital transformation.’ Salesforce

We've had the ‘digitising’ of business functions for decades. The banking sector is one of the more obvious exponents. Decades ago all transactions involved human
customers and human bank tellers. Then came ATM technology, mobile and online banking and cashless payment systems. 

However, the major distinction is that digital transformation does not simply seek to ‘digitise’ for the sake of using a technology but, instead, is predominantly driven by either improving operational efficiency, improving customer experiences in interacting with the business and consuming the product/service, or adding value to new or existing customers that gives an edge over competing businesses...

Download the full publication here

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